Smart Edusaver
Give the best that education has offer
There comes a day when your children are prepared to further his or her
studies. What about you - are you financially prepared? Most parents
dream of witnessing their children's graduation from a reputable university.
But
more importantly, they do not want to compromise their children's future.
Their education is the foundation to a comfortable life in today's
competitive world – And the key to that foundation lies within your hands today.
Average Cost (3 Year Course)
For a Full Time Undergraduate Programme
| Period |
Locally (Private)
(RM) |
Australia
(RM) |
UK
(RM) |
US
(RM) |
| Now |
68,620 |
224,100 |
397,872 |
382,500 |
| 10 Years later |
122,888 |
401,329 |
712,528 |
684,999 |
| 18 Years later |
195,865 |
639,657 |
1,135,662 |
1,091,785 |
The above illustration is based on 6% education inflation rate.
The Solution is Smart Edusaver
Smart Edusaver is a participating endowment plan that helps
parents set up a savings fund for their children's future education
needs. With Smart Edusaver's Education Excellence Awards, every distinction
achieved in government or private examination are awarded with cash
incentives. You have the option of choosing from our flexible savings
plan of 14 terms ranging from 8 to 21 years.
Education Excellence Award
Your child shall receive RM100 for every distinction achieved in the
examinations as stated in the examinations as stated in the table
below. Each child is entitled to
one award per category throughout the term of the policy. However,
this benefit is only applicable to policies in force for a minimum
of three
years or more.
| Category |
Exams* |
Criteria |
| I |
UPSR (Std 6) / PSLE |
Minimum 3 Distinctions |
| II |
PMR (Form 3) / Unified Examination Certificate (Junior) |
Minimum 4 Distinctions |
| III |
SPM/SPMV ( Form 5) / O-Level / Unified Examination Certificate
(Senior) |
Minimum 5 Distinctions |
*Also applicable to equivalent government approved Standard 6, Form 3,
Form 5 examinations.
Advanced Cash and Maturity Payment
Advance cash payment of 40% and 30% of the Sum Assured are payable two years
and one year prior to the maturity of the policy respectively. The remaining
30% of the Sum Assured will be payable upon maturity. As initial fees for university
or college education are usually high, the first payment of the 40% shall help
to take care of the first year education expenses, fully or partially. Accumulated
reversionary bonuses* and terminal bonus* will be payable at maturity.
Guaranteed Insurability Option
Smart Edusaver is a flexible plan that allows you to opt for a Whole Life or
Endowment Plan that provides Death and Total And Permanent Disability Benefit
(TPD) coverage. And this is without any underwriting requirement. However, you
should exercise this option 60 days prior to the maturity date of the current
plan. The sum assured shall not exceed the current sun assured.
Loss of Life
We will pay 100% of the Sum Assured, tax-free, in the event of death of Life
Assured. This sum includes Basic Sum Assured, accumulated Reversionary bonuses*
and terminal bonus*.
Total And Permanent Disability Benefits (TPD) – from
age six onwards
A Basic Sum Assured, accumulated Reversionary bonuses* and terminal bonus*, will
be payable in the event of Total and Permanent Disability.
*if any
Summary of Payable Benefits
| Coverage |
Benefit |
| Death |
100% of Sum Assured plus all Accumulated Reversionary Bonuses*
and Terminal Bonus*.
|
| TPD |
100% of Sum Assured plus all Accumulated Reversionary Bonuses*
and Terminal Bonus*.
|
| Maturity |
30% of Sum Assured plus all Accumulated Reversionary Bonuses*
and Terminal Bonus*. The other 70% of the Sum Assured would have
been paid as advance cash payment in the last two years prior to
maturity.
|
* If any
Notes
- The policy will not have a guaranteed cash value on termination until after the Life Assured or Assured has paid premium for 3 years.
- The Revisionary Bonus and Terminal Bonus are NON-GUARANTEED.
- If the Life Assured terminates his/her policy in the early years, he/she may get back less than the amount he/she has paid.
- The Life Assured should be satisfied that this plan will best serve his/hers needs and that the premium payable under the policy is an amount that he/she can afford.
- If suicide or self-destruction that will cause death or total and permanent disability,while sane or insane, occur within one year from the date of issue of the policy or from the date if reinstatement, whichever is later, the Company shall return the premium paid without interest.
- This webpage is for general information only, it is not a contract of insurance.
The precise terms, conditions and definitions of this insurance plan are specified
in the policy contract.
Important Notes
The plan contained herein is underwritten by Uni. Asia Life Assurance Berhad (277714-A). All claims and liabilities arising from the policies should be made with the company.
EON Bank Group reserves the right to review any of the features and/or services stipulated without prior notice.
In the event of discrepancy, ambiguity and conflict in interpreting any term or condition of the contract, the English version shall prevail and supersede the Bahasa Malaysia and Chinese version.
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